Dogecoin (DOGE) a memecoin that has been famous for its surge in value, is currently under intense technical pressure due to manipulation by whales. At the same time, a new player emerged, namely Rexas Finance (RXS), which also showed good results in the presale and has a genuine application based on tokenization. This is due to the fact that the market for cryptocurrencies is highly unpredictable, and more attention has been paid to projects that have a practical application and stable development prospects.
Dogecoin (DOGE) Faces Breakdown Risk After Major Whale Sell-Off
Dogecoin has entered a vulnerable phase after more than 1.32 billion DOGE were sold by whale wallets over the past 48 hours. This activity has dragged the price down from the $0.18–$0.20 range to just above $0.13. On-chain data confirms that most whale holdings with over 1 billion DOGE have significantly reduced their exposure. It is also important to “look at the $0.13 as support, which we have not breached since October 2023,” the analysts commented. This zone also corresponds to the 61.8% Fibonacci retracement level, a level that is important from a technical analysis standpoint. should the price break below this range, the next critical support can be found at $0.11 and $0.085, which served as consolidation levels in 2023.
Short-term oscillators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicate bearish signals at the moment. There has also been a reduction in volume in the last bounce-up, a sign that buyers are growing skeptical while sellers become more aggressive. This situation indicates that the market is still biased to the downside, as over 80% of recent liquidations were initiated based on longs.
However, some still remain focused and enthusiastic about DOGE and its long-term prospects. In previous cycles, small investments grew to tremendous proportions, with $450 turning into more than $50,000 during previous upswings. However, the current state is less enthusiastic and the memecoin itself actively trades significantly lower than its previous highs.
Rexas Finance (RXS) Grows Stronger Amid Market Uncertainty
As Dogecoin remains volatile and tests key support levels, investors may discover Rexas Finance (RXS), a new project that utilises real-world asset (RWA) tokenization. The project enables the securitization of assets such as property, artworks or ideas, thus providing an opportunity to invest in firms that operate within illiquid markets through the use of blockchain technology. Currently, the Rexas project has already collected more than $47.6 million during the ongoing presale, and tokens are 91% sold out. The current token price is $0.20, while the listing price is $0.25; such tokens may increase in value before the market launch, meaning early investors stand to benefit from this provision.
https://x.com/rexasfinance/status/1903514983000113618
The RXS ecosystem currently consists of an asset token creator, a funding platform for tokenization, and DeFi utilities for buying and staking. The platform can operate with the help of ERC-20, ERC-721, and ERC-1155 tokens, thus allowing the creation of versatile digital asset interactions.
Security has also been an issue of concern and Rexas has undergone a full audit from CertiK, a global blockchain security firm. Organic token distribution focuses on long-term exponential growth with tokens and only 3% allotted to the development team, 50% for presale, and 20% for staking rewards. Instead, this distribution model reduces centralization and discourages concentration of ownership and management power. As the demand for real-world asset tokenization increases, Rexas is gaining recognition as a next-generation platform with practical use cases and strong community backing. Investors are taking notice as the project moves closer to exchange listings and continued platform development.
Website: https://rexas.com
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
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